35 cap, 9m revenue, page-11

Mal, might be a bit harsh on Massey re valuation.

WHY, the cash burn is high because they are employing several people in the US to turn that around due to it being a very significant market. If that is the only thing stopping you, I wouldn't worry about that as they don't have many shares on issue and I would doubt that they would have any trouble doing a placement to SI's or instos if they in fact need to (see analyst reports from Wilson etc).

Pez, you are correct Resmed is a leader but they had to start somewhere. Somnomed have good growth in Europe, they acquired the 2nd largest oral appliance manufacturer in France and recently got FDA approval for their mid-range product which should increase sales. The recent survey which compared SOM's product to RMD's CPAP device showed that patients preferred the SomnoDent to CPAP.